Supriya Ghosh (Editor)

Yorkshire Building Society

Updated on
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Covid-19
Industry  Financial Services
Number of employees  3,600
Number of locations  306
Headquarters  Bradford, United Kingdom
Founded  1864
Yorkshire Building Society httpsuploadwikimediaorgwikipediaenthumb5
Type  Building Society (Mutual)
Key people  Mike Regnier, Chief Executive
Products  Mortgages, savings, investments, insurance
Net income  £152 million GBP (December 2016)
Total assets  £39.6bn (Dec 2016) £38.2bn (Dec 2015)
CEO  Mike Regnier (1 Jan 2017–)
Subsidiaries  Chelsea Building Society

Yorkshire building society selects oracle financial services data foundation to consolidate data


The Yorkshire Building Society is the second largest building society in the UK, with its headquarters in Bradford, West Yorkshire, England. It is a member of the Building Societies Association.

Contents

The society also owns the Chelsea and Norwich and Peterborough Building Societies, as well as Accord Mortgages and the savings business of Egg, which are referred to as the Yorkshire Building Society Group. Collectively the group employs 4,100 staff throughout the UK and services 3.5 million members.

The Yorkshire currently provides financial services both directly and through a 224-strong branch network and 94 associated agencies across the UK. Despite changes in the industry in recent years, the Yorkshire remains as one of the major mutual building societies in Britain - a review in 1995 confirmed that their mutual status was important to them, so that they remain answerable to their members, rather than outside shareholders.

Yorkshire building society pontefract promote pontefract yorkshire town


History

In 1864 the Huddersfield Equitable Permanent Benefit Building Society was founded in Huddersfield, and expansion through a series of agreed mergers, predominantly with the Bradford Permanent Building Society in 1975, has seen it evolve into the national building society that it is today. The current name came into use in 1982, following the merger of the Huddersfield & Bradford Building Society and the West Yorkshire Building Society. The Yorkshire also has a mortgage subsidiary company, Accord. In August 2011 it announced that it was closing its offshore subsidiary, Yorkshire Guernsey.

The Yorkshire took over the Sussex-based Haywards Heath Building Society in 1992, in an effort to develop a southern based branch presence. In 2001, the Society merged with the Gainsborough Building Society.

In 2008, the Yorkshire merged with the Barnsley Building Society which had become a victim of the Icelandic banking crisis. After learning lessons from previous mergers, and with the Barnsley being a larger organisation with a well-established brand, the Yorkshire initially decided to keep the Barnsley brand in order to keep existing customers and use it as another route to market their products.

In 2009, the Yorkshire noted that they were in advanced merger talks with Chelsea Building Society. The following day it was announced that they were to merge. The merger with Chelsea Building Society, which retained its own branding until 2016, was completed in 2010. Chelsea branded products and services are now available online and by telephone only.

The ninth largest building society at the time, Norwich and Peterborough, entered into merger discussions with the Society on 19 March 2011. Following due diligence by the Yorkshire board, N&P members voted in favour of the proposal on 22 August. FSA approval followed on 23 September and the transfer of engagements was completed on 1 November. With almost no geographical overlap, the N&P name was retained as a separate and distinct brand.

On 25 July 2011, the Yorkshire announced it was buying the Egg savings and mortgage business from Citi in a deal worth £2.5 billion. Use of the Egg trade marks by Yorkshire Building Society is currently under licence from Egg Banking Plc which provides any residual Egg savings products that were not transferred to the Yorkshire and any Egg loans products that were not sold to Britannica Recoveries S.a.r.l.

Brass band

In 1993 the former Hammonds Sauce Works Band was renamed as the Yorkshire Building Society Band. The building society supported the main band and also the YBS Hawley Band and YBS Juniors. The building society ceased its sponsorship in December 2004 although the YBS initials were retained in the band's name until 2008. From January 2009 the band was renamed the Hammonds Saltaire Band.

References

Yorkshire Building Society Wikipedia


Similar Topics
Detective Byomkesh Bakshy!
Montserrat Carulla
Warren Ellis
Topics
 
B
i
Link
H2
L